|
Investment Securities (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Investment Securities [Abstract] |
|
| Summary Of Amortized Cost And Fair Values Of Securities Classified As Available For Sale And Held To Maturity |
The amortized cost and fair values of the securities classified as available for sale and held to maturity as of December 31, 2013 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
|
Gross
|
|
|
|
|
Amortized
|
Unrealized
|
Unrealized
|
Fair
|
|
(In thousands)
|
Cost
|
Gains
|
Losses
|
Value
|
|
Available for Sale:
|
|
|
|
|
|
|
|
|
|
U.S. Treasury Obligations
|
$
|
100
|
$
|
0
|
$
|
0
|
$
|
100
|
|
U.S. Agency Obligations
|
|
0
|
|
0
|
|
0
|
|
0
|
|
U.S. Government Sponsored Enterprises ("U.S. GSEs")
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Federal Home Loan Bank ("FHLB") Obligations
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Residential Real Estate Mortgage-backed Securities ("Agency MBSs")
|
|
97,882
|
|
2,876
|
|
1,487
|
|
99,271
|
|
Agency Commercial Mortgage Backed Securities ("Agency CMBSs")
|
|
18,398
|
|
0
|
|
760
|
|
17,638
|
|
Agency Collateralized Mortgage Obligations ("Agency CMOs")
|
|
98,162
|
|
254
|
|
1,207
|
|
97,209
|
|
Non-agency Collateralized Mortgage Obligations ("Non-agency CMOs")
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Collateralized Loan Obligations ("CLOs")
|
|
37,834
|
|
73
|
|
0
|
|
37,907
|
|
Asset Backed Securities ("ABSs")
|
|
357
|
|
31
|
|
0
|
|
388
|
|
Total Available for Sale
|
$
|
252,733
|
$
|
3,234
|
$
|
3,454
|
$
|
252,513
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
|
Gross
|
|
|
|
|
Amortized
|
Unrecognized
|
Unrecognized
|
Fair
|
|
|
Cost
|
Gains
|
Losses
|
Value
|
|
Held to Maturity:
|
|
|
|
|
|
|
|
|
|
U.S. Agency Obligations
|
$
|
23,580
|
$
|
0
|
$
|
458
|
$
|
23,122
|
|
U.S. Government Sponsored Enterprises ("U.S. GSEs")
|
|
9,442
|
|
0
|
|
512
|
|
8,930
|
|
Federal Home Loan Bank ("FHLB") Obligations
|
|
4,684
|
|
0
|
|
191
|
|
4,493
|
|
Agency Collateralized Mortgage Obligations
|
|
94,105
|
|
0
|
|
2,426
|
|
91,679
|
|
Agency MBSs
|
|
9,015
|
|
25
|
|
177
|
|
8,863
|
|
Total Held to Maturity
|
$
|
140,826
|
$
|
25
|
$
|
3,764
|
$
|
137,087
|
The amortized cost and fair values of the securities classified as available for sale and held to maturity as of December 31, 2012 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
|
Gross
|
|
|
|
|
Amortized
|
Unrealized
|
Unrealized
|
Fair
|
|
(In thousands)
|
Cost
|
Gains
|
Losses
|
Value
|
|
Available for Sale:
|
|
|
|
|
|
|
|
|
|
U.S. Treasury Obligations
|
$
|
100
|
$
|
0
|
$
|
0
|
$
|
100
|
|
U.S. Agency Obligations
|
|
10,956
|
|
0
|
|
59
|
|
10,897
|
|
U.S. GSEs
|
|
58,731
|
|
723
|
|
88
|
|
59,366
|
|
FHLB Obligations
|
|
24,546
|
|
39
|
|
0
|
|
24,585
|
|
Agency MBSs
|
|
142,441
|
|
6,326
|
|
0
|
|
148,767
|
|
Agency CMBSs
|
|
5,087
|
|
0
|
|
58
|
|
5,029
|
|
Agency CMOs
|
|
227,815
|
|
2,922
|
|
338
|
|
230,399
|
|
Non-agency CMOs
|
|
4,589
|
|
6
|
|
2
|
|
4,593
|
|
CLOs
|
|
24,748
|
|
0
|
|
221
|
|
24,527
|
|
ABSs
|
|
357
|
|
61
|
|
0
|
|
418
|
|
Total Available for Sale
|
$
|
499,370
|
$
|
10,077
|
$
|
766
|
$
|
508,681
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
|
Gross
|
|
|
|
|
Amortized
|
Unrealized
|
Unrealized
|
Fair
|
|
|
Cost
|
Gains
|
Losses
|
Value
|
|
Held to Maturity:
|
|
|
|
|
|
|
|
|
|
Agency MBSs
|
$
|
407
|
$
|
47
|
$
|
0
|
$
|
454
|
|
Total Held to Maturity
|
$
|
407
|
$
|
47
|
$
|
0
|
$
|
454
|
|
| Summary Of Contractual Maturity Distribution Of Debt Securities Classified As Available For Sale And Held To Maturity |
The contractual final maturity distribution of the debt securities classified as available for sale of December 31, 2013, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
After One
|
After Five
|
|
|
|
|
|
|
Within
|
But Within
|
But Within
|
After Ten
|
|
|
|
(In thousands)
|
One Year
|
Five Years
|
Ten Years
|
Years
|
Total
|
|
Available for Sale (at fair value):
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury Obligations
|
$
|
100
|
$
|
0
|
$
|
0
|
$
|
0
|
$
|
100
|
|
Agency MBSs
|
|
143
|
|
4,383
|
|
14,989
|
|
79,756
|
|
99,271
|
|
Agency CMBSs
|
|
0
|
|
0
|
|
13,226
|
|
4,412
|
|
17,638
|
|
Agency CMOs
|
|
0
|
|
0
|
|
3,095
|
|
94,114
|
|
97,209
|
|
CLOs
|
|
0
|
|
0
|
|
28,022
|
|
9,885
|
|
37,907
|
|
ABSs
|
|
0
|
|
0
|
|
0
|
|
388
|
|
388
|
|
Total Available for Sale
|
$
|
243
|
$
|
4,383
|
$
|
59,332
|
$
|
188,555
|
$
|
252,513
|
|
Available for Sale (at amortized cost):
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury Obligations
|
$
|
100
|
$
|
0
|
$
|
0
|
$
|
0
|
$
|
100
|
|
Agency MBSs
|
|
135
|
|
4,123
|
|
14,200
|
|
79,424
|
|
97,882
|
|
Agency CMBSs
|
|
0
|
|
0
|
|
13,754
|
|
4,644
|
|
18,398
|
|
Agency CMOs
|
|
0
|
|
0
|
|
3,092
|
|
95,070
|
|
98,162
|
|
CLOs
|
|
0
|
|
0
|
|
27,949
|
|
9,885
|
|
37,834
|
|
ABSs
|
|
0
|
|
0
|
|
0
|
|
357
|
|
357
|
|
Total Available for Sale
|
$
|
235
|
$
|
4,123
|
$
|
58,995
|
$
|
189,380
|
$
|
252,733
|
The contractual final maturity distribution of the debt securities classified as held to maturity of December 31, 2013, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
After One
|
After Five
|
|
|
|
|
|
|
Within
|
But Within
|
But Within
|
After Ten
|
|
|
|
(In thousands)
|
One Year
|
Five Years
|
Ten Years
|
Years
|
Total
|
|
Held to Maturity (at fair value):
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Agency Obligations
|
$
|
0
|
$
|
0
|
$
|
0
|
$
|
23,122
|
$
|
23,122
|
|
U.S. GSEs
|
|
0
|
|
0
|
|
8,930
|
|
0
|
|
8,930
|
|
FHLB Obligations
|
|
0
|
|
0
|
|
4,493
|
|
0
|
|
4,493
|
|
Agency MBSs
|
|
7
|
|
26
|
|
0
|
|
8,830
|
|
8,863
|
|
Agency CMOs
|
|
0
|
|
0
|
|
0
|
|
91,679
|
|
91,679
|
|
Total Held to Maturity
|
$
|
7
|
$
|
26
|
$
|
13,423
|
$
|
123,631
|
$
|
137,087
|
|
Held to Maturity (at amortized cost):
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Agency Obligations
|
$
|
0
|
$
|
0
|
$
|
0
|
$
|
23,580
|
$
|
23,580
|
|
U.S. GSEs
|
|
0
|
|
0
|
|
9,442
|
|
0
|
|
9,442
|
|
FHLB Obligations
|
|
0
|
|
0
|
|
4,684
|
|
0
|
|
4,684
|
|
Agency MBSs
|
|
7
|
|
25
|
|
0
|
|
8,983
|
|
9,015
|
|
Agency CMOs
|
|
0
|
|
0
|
|
0
|
|
94,105
|
|
94,105
|
|
Total Held to Maturity
|
$
|
7
|
$
|
25
|
$
|
14,126
|
$
|
126,668
|
$
|
140,826
|
|
| Summary of Proceeds, Gross Gains and Gross Losses on Available for Sale Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands)
|
2013
|
2012
|
2011
|
|
Proceeds
|
$
|
53,215
|
$
|
129,936
|
$
|
131,858
|
|
Gross gains
|
|
548
|
|
811
|
|
1,188
|
|
Gross losses
|
|
(560)
|
|
(304)
|
|
(139)
|
|
Net gains (losses)
|
$
|
(12)
|
$
|
507
|
$
|
1,049
|
|
| Summary Of Gross Unrealized/Unrecognized Losses On Investment Securities Available For Sale |
Gross unrealized losses on investment securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at December 31, 2013, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less Than 12 Months
|
12 Months or More
|
Total
|
|
(In thousands)
|
Fair Value
|
Loss
|
Fair Value
|
Loss
|
|
Fair Value
|
Loss
|
|
Agency MBSs
|
$
|
46,547
|
$
|
1,487
|
$
|
0
|
$
|
0
|
$
|
46,547
|
$
|
1,487
|
|
Agency CMBSs
|
|
12,778
|
|
578
|
|
4,860
|
|
182
|
|
17,638
|
|
760
|
|
Agency CMOs
|
|
57,904
|
|
977
|
|
3,557
|
|
230
|
|
61,461
|
|
1,207
|
|
Total
|
$
|
117,229
|
$
|
3,042
|
$
|
8,417
|
$
|
412
|
$
|
125,646
|
$
|
3,454
|
Gross unrecognized losses on investment securities held to maturity and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at December 31, 2013, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less Than 12 Months
|
12 Months or More
|
Total
|
|
(In thousands)
|
Fair Value
|
Loss
|
Fair Value
|
Loss
|
|
Fair Value
|
Loss
|
|
U.S. Agency Obligations
|
$
|
13,722
|
$
|
307
|
$
|
9,400
|
$
|
151
|
$
|
23,122
|
$
|
458
|
|
U.S. GSEs
|
|
8,930
|
|
512
|
|
0
|
|
0
|
|
8,930
|
|
512
|
|
FHLB Obligations
|
|
4,493
|
|
191
|
|
0
|
|
0
|
|
4,493
|
|
191
|
|
Agency CMOs
|
|
66,203
|
|
1,410
|
|
25,476
|
|
1,016
|
|
91,679
|
|
2,426
|
|
Agency MBSs
|
|
8,569
|
|
177
|
|
0
|
|
0
|
|
8,569
|
|
177
|
|
Total
|
$
|
101,917
|
$
|
2,597
|
$
|
34,876
|
$
|
1,167
|
$
|
136,793
|
$
|
3,764
|
Gross unrealized losses on investment securities available for sale and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at December 31, 2012, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less Than 12 Months
|
12 Months or More
|
Total
|
|
(In thousands)
|
Fair Value
|
Loss
|
Fair Value
|
Loss
|
Fair Value
|
Loss
|
|
U.S. Treasury Obligations
|
$
|
0
|
$
|
0
|
$
|
0
|
$
|
0
|
$
|
0
|
$
|
0
|
|
U.S. Agency Obligations
|
$
|
10,897
|
$
|
59
|
$
|
0
|
$
|
0
|
$
|
10,897
|
$
|
59
|
|
U.S. GSEs
|
|
9,882
|
|
88
|
|
0
|
|
0
|
|
9,882
|
|
88
|
|
FHLB Obligations
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Agency MBSs
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Agency CMBSs
|
|
5,029
|
|
58
|
|
0
|
|
0
|
|
5,029
|
|
58
|
|
Agency CMOs
|
|
39,047
|
|
338
|
|
0
|
|
0
|
|
39,047
|
|
338
|
|
Non-agency CMOs
|
|
0
|
|
0
|
|
3,041
|
|
2
|
|
3,041
|
|
2
|
|
CLOs
|
|
24,527
|
|
221
|
|
0
|
|
0
|
|
24,527
|
|
221
|
|
ABSs
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
0
|
|
Total
|
$
|
89,382
|
$
|
764
|
$
|
3,041
|
$
|
2
|
$
|
92,423
|
$
|
766
|
|